The Future of Transportation – CEOWORLD Magazine
In a dynamic and changing world, most industries are undergoing transformation. Speed, precision and safety are the main drivers. Most transportation agencies are accelerating to translate mobility into a more seamless, sustainable, accessible, affordable, and safe option. As a CEO in this industry or as an entrepreneur, how contemporary are you?
We are still in the same problem-solving mechanism, with the principle of moving people from point A to point B. For cities engaged in solving “over-rush” conditions due to demographic pressure, they undergo all sorts of complexities. The geography may be different, the modes of transport required will vary, the infrastructure put in place and the funding. The task facing industry leaders is daunting and becomes complex over time.
The big question is, what are the key future transport technologies that could be adopted by the industry? Second, what are the main cultural, social and behavioral aspects that future transport designers should keep in mind?
Do CEOs Think?
According to industry estimates, over time there will be a quantum movement towards simpler, faster, convenient and efficient sustainable transportation that we are about to witness. Supporting technologies like artificial intelligence in the age of mobility are bound to drive change. Leaders in the transportation industry will therefore need to be more intuitive. They should be able to detect early and anticipate new technologies, opportunities and social changes that meet the needs of citizens. They should be more open to harnessing data, technology and human capabilities to address new and long-standing challenges in this transport sector.
The need to come together
It is high time to bring together leading industry experts, academics, scientists and researchers to exchange experiences in all aspects of transport of the future. It will provide an interdisciplinary platform for policy makers, senior managers, researchers, practitioners and educators to discuss recent innovations, trends, concerns, challenges encountered and solutions adopted in this field.
New perspectives and challenge
Currently, the transportation industry is booming. The most likely reasons for this growth are continuous research and development and the creation of new start-ups in the region. In 2015, as part of the Paris Agreement, often referred to as the “Paris Agreement,” signed an agreement between 196 parties to the United Nations Framework Convention on Climate Change (UNFCCC) to promote clean fuels. In order to achieve this goal, the parties agreed to reduce carbon dioxide (CO2) emissions by 50% by 2030 and zero emissions by 2050 as a result of global warming. The continuous increase in temperature and the melting of the polar caps lead to a switch from traditional fuels (gasoline, diesel) to electric vehicles (EV). With the increase in demand for electric vehicles, there is a significant drop in the price of lithium-ion batteries and has opened up new opportunities for start-ups. Some of the major players in this segment are Tesla, Jaguar, Morris Garrage, etc. Innovation and novelty are the most necessary facets of any industry, for example artificial intelligence (AI) has facilitated in many sectors. This technology is used in vehicles called “self-automated vehicles” (SAV), which is a remarkable advancement in the transport sector. The main obstacle of this technology is its unsuitability for all types of roads. This obstacle should be overcome by technologists in the coming years.
The Covid-19 pandemic was a curse for human civilization, but has also turned out to be a blessing for new age start-ups. Drones have been used in difficult times to deliver essential items. They have been used in medical emergencies like cardiac arrest, asthma and have been called a life-saving invention. In times to come, they will be used to transport light items or products. This is how drone technology has turned the industry upside down.
Hyperloop, is another revolutionary mode of transportation that can travel up to 700 mph. It uses the properties of vacuum in a tube to move from point A to point B. This modern mode of transport saves time for the traveller. This technology is gaining importance in developed countries, although being tested but has a promising future. Another recent trend is flying taxis. They are seen as a future in transportation, as seen in sci-fi movies. It’s like a dream come true. The factors that will drive the growth of flying taxis are safety, time saving, and technological advancements. If priced correctly, they can reform the entire transportation industry.
Transportation – resilient to change
Modern technology has used the tools to prepare future adaptable changes, i.e. societal, environmental and economically beneficial. Advances in research have paved the way for a new era of technological transformation. Innovations such as AI-based VAS, delivery drones, hyperloop, and flying taxis are major contributors to the recent trend. As part of the current decade, there has been an evolution in the phase of technology laying the groundwork for transportation to come. Would you be able to embrace and accept change? How resilient are you to this change?
Written by Dr. Manoj Joshi.
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